Download a Free Chapter: The Little Black Book of Strategic Planning for DistributorsSubmit your email address below to receive a chapter of Brent Grover's new book. When you submit your email you will be signed up to receive weekly distribution news updates.

"While we are disappointed with this turn of events, we remain focused, as always, on investing in product innovation and providing our customers with a broad range of premier products," said Jesse Singh, vice president and general manager, 3M Stationery and Office Supplies Division.

Avery Dennison will continue to pursue a divestiture of the Office and Consumer Products business, according to a release from the company.